Overview
Sun Communities, Inc. is a real estate investment trust focused on owning, operating, acquiring, developing and expanding manufactured-housing (MH) and recreational-vehicle (RV) communities. Residents and guests lease sites, with access to utilities and community amenities; through Sun Home Services, the company also markets, sells and leases new and pre-owned homes.[1][2]
Its core business is in the United States and Canada. At year-end 2025, Sun reported 513 developed properties across the United States, Canada and the United Kingdom; it completed the sale of its UK assets in September 2026.[3][4] The company traces its roots to Sundance Enterprises, founded in 1975, and says its service commitment emphasizes providing extraordinary service to residents and guests.[5][6]
For 2025, Sun reported $1.766 billion in total operating revenue, including revenue from the UK business sold in 2026, and 3,614 full- and part-time employees at year-end.[7][8] [1][2][3][4][5][6][7][8][4][5][6]
Products & services
Sun Communities’ manufactured-home (MH) offerings include the sale and leasing of manufactured homes to current and prospective residents, alongside sites in its MH communities. Its recreational-vehicle (RV) offerings include RV community sites and vacation-rental leasing services within those communities.[9][10]
Community services and amenities vary by location; examples described by the company include pools, clubhouses, fitness centers, sports courts, dog areas, planned events, golf, pickleball, and, at some communities, marinas and restaurants.[11][12][13] [9][10][11][12][13][11][12][13]
Geographic presence
At year-end 2025, Sun Communities operated 513 developed properties across the United States, Canada and the United Kingdom, comprising 294 manufactured-housing communities, 166 RV communities and 53 U.K. communities, with 178,650 developed sites in total. The U.K. properties accounted for 21,620 sites; the U.S. and Canadian manufactured-housing and RV portfolio comprised 460 properties and 157,030 sites.[3][7]
Within its U.S. manufactured-housing and RV markets, Florida was the largest by property count, with 125 properties and 47,190 sites, followed by Michigan with 89 properties and 34,660 sites. The company reported these markets as 27.0% and 22.3%, respectively, of MH/RV revenue; California represented 8.9% and Texas 7.6%. In the U.K., 50 parks and 20,150 sites were in England, while three parks and 1,470 sites were in Scotland and Wales.[14][15]
For 2025, U.K. segment operating revenue was $185.7 million of $1,765.8 million in total operating revenue (about 10.5%); U.K. real-property NOI was $80.7 million of $1,058.8 million (about 7.6%). The principal executive office is in Southfield, Michigan. The company reported 3,614 employees at year-end 2025, including 849 on-site property managers, but did not provide a regional employee breakdown.[7][16][17] [3][7][14][15][7][7][7][7][16][17][18][19]
Business segments
Sun Communities, Inc.’s latest reported segment structure, in its 2026 second-quarter reporting, comprises two reportable segments: manufactured home (MH) communities and recreational vehicle (RV) communities. Following the sale of its Park Holidays business, the company moved from three segments to two in the second quarter of 2026; the UK business was classified as discontinued operations, and prior-period segment information was recast.[20][21]
The MH segment acquires, operates and develops U.S. manufactured-home communities, providing affordable housing, and also offers manufactured-home sales and leasing services. The RV segment acquires, operates and develops RV communities in the U.S. and Canada, and provides vacation-rental leasing services.[9][10]
For the six months ended June 30, 2026, MH accounted for approximately 66% of functional revenue ($588.2 million of $889.6 million) and 74% of NOI ($377.1 million of $508.7 million). RV accounted for approximately 34% of functional revenue ($301.4 million) and 26% of NOI ($131.6 million). NOI is the measure used by the company’s chief operating decision maker to evaluate the segments.[22][23][23][23][23][23][23] [20][21][9][10][22][23][23][23][23][23][23]
Company history
Sun Communities traces its origins to Sundance Enterprises, founded in 1975 to acquire manufactured-housing communities in Michigan; Sun Communities was incorporated in 1985. Its shares began trading on the New York Stock Exchange in 1993, and the company has operated with the intent to qualify as a real estate investment trust since 1994. In 1996, it expanded into recreational-vehicle communities through the acquisition of Aspen Properties.[5][24][25]
The company expanded its manufactured-housing portfolio with the 2014 acquisition of American Land Lease and broadened its RV operations through its 2016 acquisition of Carefree Communities. In 2020, it entered the marina business by acquiring Safe Harbor Marinas, followed in 2022 by its entry into the UK holiday-park market with the acquisition of Park Holidays UK. Sun completed its exit from Safe Harbor in August 2025. That year, Charles D. Young became CEO, succeeding longtime chief executive Gary Shiffman, who remained board chair.[5][26][27][1][28][29][30] [24][25][1][28][29][30][5][26][27]
Sources
- SUN COMMUNITIES INC — Full financial report (2025 Y)
- www.sec.gov[4]
- www.suninc.com[5]
- www.suninc.com[6]
- SUN COMMUNITIES INC — Full financial report (2026 Q 2)
- www.suncommunities.com[11]
- www.suncommunities.com[12]
- www.suncommunities.com[13]
- www.sec.gov[18]
- www.suninc.com[19]
- suncommunities.gcs-web.com[26]
- suncommunities.gcs-web.com[27]
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